ANALYSIS OF GLOBAL INNOVATION ENVIRONMENTAL FACTORS OF INTERNATIONAL BUSINESS AND ECONOMIES

Victoria Kokorina ()
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Victoria Kokorina: Classic Private University, Ukraine

Three Seas Economic Journal, 2021, vol. 2, issue 1

Abstract: The purpose of the paper is to identify and assess impact of global innovation factors of modern international business development and the world economies development. Methodology. The study uses methods of specification and systematic analysis – to determine factors of global economic environment, global innovation factors, statistical and economic methods – to analyze impact of global innovation factors on the development of international business and economies. Results of the survey shows impact of innovation development of global economy on macroeconomic, technological, legal, political and cultural environment of global economic environment of international business development; dynamics of global criteria of integrated indicators to determine impact of global innovation factors on the world economies development. Practical implications. The factors of global economic environment in the conditions of global innovation development form a regular tendency of transformation of international business development which causes its new structure and qualitative condition. The Global Competitiveness Index (GCI) assesses the imperatives of global competitiveness: institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labor market, financial system, market size, business dynamism, innovation capability, – related to rapid spread of ICT and digital technologies, idea generation, entrepreneurial culture, innovation, openness and innovation adaptability. The Global Innovation Index (GII) is used to assess comprehensively global innovation factors and innovation development of the world`s countries in the global economy system. With innovation factors management, estimated by GII, the prospects of innovation development of the world economies could be shown. The GII contains the pillars of the country’s innovation development: institutions, human capital and research, infrastructure, market sophistication, business sophistication, knowledge and technology outputs, creative outputs. Value/originality. The analysis assesses of international indices of innovation development, the complexity of innovation process, the innovation activity and innovation potential for the development of international business and the world economies. The methodology of indices concerning the pillars of the innovation development or the innovation capacity of countries helps to predict the innovation factors of the national economy development of a country and the environment of international business.

Keywords: global innovation factors; international business; global economic envi-ronment; Global Innovation Index; innovation capacity (search for similar items in EconPapers)
JEL-codes: F23 F64 O31 O57 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bal:3seasj:2661-5150:2021:2:1:6

DOI: 10.30525/2661-5150/2021-1-6

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